{
    "type": "ETC",
    "ucits": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The WisdomTree Physical Platinum ETC is a physically backed commodity product with no leverage, derivatives, or synthetic replication. It directly holds allocated physical platinum bars, and its performance is tied linearly to the spot price of platinum, less fees. The risk profile is straightforward, with a risk rating of 5 out of 7, primarily driven by commodity price volatility rather than structural complexity. The product is fully collateralized, and there are no complex features such as capital protection, structured returns, or illiquid underlying assets. The KIID and factsheet confirm that the ETC does not use swaps, derivatives, or leverage, and the replication method is purely physical. The absence of these elements, combined with the transparency of the underlying asset (physical platinum), supports the classification as non-complex under MiFID II.",
    "confidence": 95
}